The advisors on Spar Holding’s sale to Tannenwald
Spar Group completed the sale of its entire shareholding in Spar Holding – including its Swiss business operations Spar Switzerland – to Tannenwald Holding. In connection with the deal, Homburger advised the selling part, while Bär & Karrer represented the buyer.
The context
Headquartered in St. Gallen, Spar Switzerland operates approximately 358 stores across the country. The company also owns 11 cash & carry outlets and one distribution centre.
The deal sets an equity valuation of CHF 46.5 million, with additional earn-out payments of up to CHF 30 million payable at the end of FY27, subject to the achievement of specified EBITDA targets.
The Bär & Karrer team
Christoph Neeracher (pictured above – left) and Philippe Seiler (pictured above – right) led the Bär & Karrer team on the matter, with further support from Lukas Bründler, Djawad Kleist and Aurèle Bertrand (all M&A), Raoul Stocker, Fabian Capt and Aaron Liechti (all tax), Lukas Roesler and Colin Giezendanner (both financing), Markus Wang and Christine Schweikard (both IP/IT), Rocco Rigozzi and Corina Moschen (both real estate), Mani Reinert and Martin Werner (both antitrust) as well as Laura Widmer and Nicola Schön (both employment).
The Homburger team
Frank Gerhard (pictured) led the Homburger team on the matter, working alongside Patrick Schmidt, Carlo Sulser, Florian Bruggisser, Jannis Zafeirakos and Leon Indov (all corporate / M&A), Richard Stäuber, Andreas Burger and Kristina Martinovic (all competition), Stefan Oesterhelt, Reto Heuberger, Juliette Buob and Philippe Weber (all tax), Stefan Bindschedler (financing and investment products) as well as Luca Dal Molin and Noëmie Beck-Schär (both IP / IT) and Jeremy Reichlin (employment)
